Cardinal Capital Management has spent years working to bring a housing project for residents 55 and older to the corner of 74th and Wright streets. It now says it is ready to move forward.
The project, led by Cream City Real Estate Investments, would entail 92 market-rate apartments on a property just north of Mayfair Mall where the city previously had rejected a plan to build a Chick-fil-A restaurant.
Cardinal Capital's Le Bon Vivant project envisions 41 apartments for residents 55 and older in a new two-story building that would replace a long-blighted parcel of poorly drained pavement across from Roosevelt Elementary School.
The latest project to request city assistance through tax incremental financing is a 204-apartment development that Irgens hopes to build on a vacant 3.7-acre parcel on the northeast corner of Mayfair Road and Wisconsin Avenue.
The Sonesta hotel on the southeast corner of Watertown Plank and Mayfair roads would be converted to apartments under a redevelopment plan now in the works.
The 2026 city budget, scheduled to be adopted Nov. 18 by the Common Council, includes $42,000 for consulting services related to redevelopment around the Department of Public Works facility.
City officials and the developers say the conversion project will not be feasible without financial support from the City of Wauwatosa, which is considering creating a new tax incremental financing district to include the project.
The Mandel Group, which is planning to build 157 market-rate apartments on the site of the city's Blanchard Street parking lots, will close those lots soon in preparation for construction to begin.
